Poker masters gather in Lion City, BTC LAYER2 SUMMIT and DACA 10th anniversary celebration successfully concluded

Author: Block Technology

On September 11, 2023, prominent figures from the cryptocurrency poker circle, including Zhou Shuoji, Zhang Shousong, Sun Yuchen (video), Bobby Lee, Han Feng, Yang Linke, Uncle Da, Blue Collar, Dendi, Li Guoquan, Shen Tu Qingchun, Kong Jianping, Chuxia Hu, Ren Zheng, Lele, Gaoyuan Feixiong, Wang Junjie, and others gathered in Lion City to attend the BTC LAYER2 SUMMIT and the 10th anniversary celebration of DACA. The summit was hosted by DACA, co-organized by Elastos, and undertaken by BLOCK GLOBAL.

Cooperating media included BLOCK BEATS, ODAILY, CHAIN CATCHER, Foresight News, METAERA, CHAINDD, Jinse Finance, TECHUB NEWS, PANews, BEAT BEE, and other blockchain industry and traditional media, with live broadcasts shared in real-time by Huobi.

Numerous guests were invited to give speeches and participate in roundtable discussions, creating a lively atmosphere with active audience interaction and a packed venue. There were over 10 prominent figures from the cryptocurrency circle as special guests, more than 300 attendees on-site, and over 7,000 online live viewers.

Guests attending this event included (in no particular order):

Vice President of Surya University, PhD in Systems Engineering from MIT, Gu Xueyong

Head of Hong Kong Region at Jinse Finance, Shen Aijia

Founder of Nano Labs, Director of Hong Kong Cyberport, and member of the Hong Kong Third Generation Internet Development Task Force, Kong Jianping

Exchange PhD student & visiting scholar at Columbia University, former blockchain advisor at Huawei Central Research Institute, and co-founder of Yilaiyun, Han Feng

Founder and Managing Partner of C²Ventures, Ciara Sun

Professor at Singapore University of Social Sciences, Li Guoquan

Founder of BitSEF, DJ Qian

GN&C engineer, PhD in Aerospace Engineering from MIT, Axel Garcia

iPollo community ambassador, Nina Xiaoerdou

Founder of Neo, Da Hongfei

President of DACA, Zhang Shousong

Founder of Chuxia Fund, Chuxia Hu

Founder of Deep Innovation Academy and initiator of Chain War, Baoshi

Technical Education Director of DACA, Lei Bo

Founding member of DACA, Wang Junjie

Founder and Chairman of Taiyi Group, Dendi

CEO of Meta Era, Eric Bai

Former Senior Vice President at Morgan, Global Business Promotion Leader at Yilaiyun, Fakhul Miah

Partner at LK Venture, Edward.W

Co-founder of Web3Port, Co-chair of MIT Venture Capital and Private Equity Club, Vice President of MIT Blockchain Club, Jaclyn Ding

Former co-founder and CEO of BTCC/BTCChina, founder and CEO of Ballet, Bobby Lee

Zhang Shousong, President of DACA, delivered the opening speech. He expressed excitement and enthusiasm about reuniting with everyone after 10 years since DACA's establishment in 2013, wishing for the event's success.

DACA was originally registered in Hong Kong in 2013 by well-known figures in the Chinese community, including Bobby Lee, a director of the Bitcoin Foundation at the time, Vitalik Buterin, founder of Ethereum, Xu Mingxing, founder of OK Group, Li Lin, founder of Huobi, Wu Jihan, co-founder of Bitmain, He Yi, co-founder of Binance, and Zhang Shousong, founder of Jubi. Since 2014, it has conducted "Blockchain University Tours" at over 100 universities in Asia and held multiple professional training sessions on blockchain and cryptocurrency technology at Tsinghua University, significantly promoting the concepts of cryptocurrency and blockchain technology in Asia.

Next, Gu Xueyong, Vice President of Surya University and PhD in Systems Engineering from MIT, delivered the first keynote speech: "Expanding Data Exchange Marketplaces in the Web5 Era." In his speech, he pointed out that Bitcoin must embrace Layer 2, and the integration of Bitcoin Layer 2 with PKC (Personalized Knowledge Container) supported by ZK technology can lay a solid foundation for large-scale trading of data assets in the WEB5 era.

In the first roundtable discussion: "Stars and Seas | The Universal Value of POW and the Capital Drive of POS, Who Truly Represents the Future Direction?" participants discussed the differences between POW and POS consensus mechanisms.

Jack Kong, founder of Nano Labs, Director of Hong Kong Cyberport, and member of the Hong Kong Third Generation Internet Development Task Force, stated: "POW has significant historical importance and played a crucial role in talent and capital acquisition in the early industry. For investment, one might consider buying Bitcoin, but more importantly, it is to learn industry knowledge."

Han Feng, exchange PhD student & visiting scholar at Columbia University, former blockchain advisor at Huawei Central Research Institute, and co-founder of Yilaiyun, expressed: "I firmly stand with POW. Attacking Bitcoin solely from an energy perspective is unreasonable; computing power is a guarantee of system security, and it will prove the reality of the world alongside POW."

Ciara Sun, founder and managing partner of C²Ventures, stated: "I support both consensus mechanisms. The BTC ecosystem, including the Bitcoin Layer 2 ecosystem, has made significant progress this year. While POW has strong consensus, it has been criticized for energy consumption. The POS consensus mechanism is more environmentally friendly and has advantages in scalability."

Li Guoquan, professor at Singapore University of Social Sciences, remarked: "Developing the digital economy and green economy cannot be separated from renewable energy. The use of renewable energy will gradually alleviate the environmental impact of POW mining."

DJ Qian, founder of BitSEF, said: "From the beginning, what attracted me to blockchain was the consensus mechanism. The consensus mechanism is essentially a game theory that needs to balance efficiency and decentralization. I believe there will be more consensus mechanisms in the future, and I also believe that more effective and secure consensus mechanisms will emerge."

After the first roundtable discussion, Axel Garcia, GN&C engineer and PhD in Aerospace Engineering from MIT, delivered the second keynote speech: "Expanding the Reach in the Bitcoin Layer 2 Network." He stated that through a decentralized satellite network, blockchain can achieve global connectivity and significantly alleviate the blockchain's impossible triangle. With the support of Layer 2 networks and zero-knowledge proofs, the number of Bitcoin users and programmability will further increase.

In the second roundtable discussion: "A Decade in Review | The Past and Future of Bitcoin: Nostalgia and Outlook from Early Chinese Participants," attendees reviewed and looked forward to the industry. The roundtable was hosted by Nina Xiaoerdou, iPollo community ambassador.

Zhang Shousong, President of DACA, shared his experiences with Bitcoin's development, stating that historically, three years is a cycle, and he is optimistic about Bitcoin's development in the next three years.

Da Hongfei, founder of Neo, remarked that Bitcoin itself hasn't changed; what has changed is people's sentiment towards it. He believes Bitcoin will not only be limited to the role of value storage in the future and hopes to contribute to it. The important aspect of this process is not to bring economic returns but to bring a sense of achievement.

Chuxia Hu, founder of Chuxia Fund, stated that Bitcoin may not experience explosive growth in the future, but the breadth of the entire industry will increase. Ten years ago, there may have only been Bitcoin, but now the entire industry will have more branches, more fields, and more projects. He believes Bitcoin's ecosystem will become increasingly rich!

Baoshi, founder of Deep Innovation Academy and initiator of Chain War, mentioned that in the past few years, Bitcoin's non-zero addresses and total network computing power have significantly increased. Therefore, he remains firmly bullish on Bitcoin, while also holding a sense of awe towards the unknown future. The 10th anniversary of DACA is truly meaningful.

Subsequently, a DACA 10th anniversary ceremony was held, with Zhang Shousong, President of DACA, former CEO of Bitcoin China Bobby Lee, founder of Neo Da Hongfei, Taiyi Cloud's Dendi, co-founder of Yilaiyun Han Feng, founder of BLOCK GLOBAL Shi Yanqiang, co-founder of Yibao Payment Yu Chen, founder of Chuxia Fund Chuxia Hu, Technical Education Director of DACA Lei Bo, founding member of DACA Wang Junjie, and founder of Deep Innovation Academy Baoshi participating together.
The third roundtable discussion was themed: "On-Chain Carving | Can the Ordinals Phenomenon Ignite the BTC Layer 2 Track?" The host, Eric Bai, CEO of Meta Era, led the discussion on Bitcoin Layer topics.

Fakhul Miah, former Senior Vice President at Morgan and Global Business Promotion Leader at Yilaiyun, stated that there are several factors that may explain why BTC's Layer 2 solutions have not garnered widespread attention. Firstly, BTC's primary use is as a store of value, rather than a platform for smart contracts and applications, leading to relative stagnation in technical and community development. Secondly, Ethereum, as a smart contract platform, has attracted more developers and projects, making its Layer 2 solutions more popular. Lastly, BTC's Layer 2 solutions require time to develop and promote to attract more users and developers. Over time, the potential of BTC Layer 2 still exists and may attract more attention and adoption in the future.

Edward.W, partner at LK Venture, expressed anticipation for the arrival of Bitcoin Layer 2, which will help reduce transaction fees and improve the efficiency of the Bitcoin network.

Dendi, founder and chairman of Taiyi Group, noted that Ethereum's Layer 2 solutions are highly regarded due to the demand for smart contracts and decentralized applications. However, BTC's Layer 2 solutions may still have room for development in the future, especially with the continuous advancement of blockchain technology. Over time, we may see more developments and adoption of BTC Layer 2.

Jaclyn Ding, co-founder of Web3Port, co-chair of MIT Venture Capital and Private Equity Club, and vice president of MIT Blockchain Club, stated that unlike Ethereum, BTC's ecosystem focuses more on security and stability rather than smart contracts and decentralized applications. Nevertheless, BTC's Layer 2 solutions still have the potential to alleviate network congestion issues and improve transaction efficiency. Over time, the development and adoption of BTC Layer 2 may increase, especially with support from large institutions (Binance, OKX) and investors.

Finally, Bobby Lee, former co-founder and CEO of BTCC/BTCChina, now founder and CEO of Ballet, and Han Feng, visiting scholar at Columbia University, shared freely. In their sharing, they reviewed personal experiences and described the overall situation of Bitcoin's development and the content of his monograph. Han Feng also stated that Bitcoin is likely to be a high-quality asset that could replace gold in the next round of global debt crisis.
In the end, he presented his book "The Promise of Bitcoin: The Future of Money and How it Can Work for You," and signed copies for the guests on-site! The guests included representatives from DACA, academic representatives, media representatives, Elastos representatives, fund representatives, MIT representatives, Hong Kong community representatives, and technical community representatives.